Citigroup Inc. Has $5.19 Million Stake in WesBanco, Inc. $WSBC

Citigroup Inc. boosted its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 14.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,667 shares of the financial services provider’s stock after buying an additional 20,269 shares during the quarter. Citigroup Inc. owned approximately 0.17% of WesBanco worth $5,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brant Point Investment Management LLC raised its position in shares of WesBanco by 32.9% in the second quarter. Brant Point Investment Management LLC now owns 420,000 shares of the financial services provider’s stock valued at $13,285,000 after buying an additional 103,915 shares in the last quarter. Capital Fund Management S.A. bought a new position in WesBanco during the 2nd quarter worth $1,013,000. Algebris UK Ltd. acquired a new position in WesBanco in the 3rd quarter valued at $19,863,000. Boston Partners lifted its position in shares of WesBanco by 100.6% during the 2nd quarter. Boston Partners now owns 109,517 shares of the financial services provider’s stock valued at $3,464,000 after acquiring an additional 54,917 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of WesBanco by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 797,220 shares of the financial services provider’s stock worth $25,216,000 after purchasing an additional 48,042 shares in the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Stock Down 0.5%

Shares of WSBC opened at $35.29 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week high of $38.10. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.05 and a beta of 0.79. The stock has a fifty day moving average of $35.28 and a 200-day moving average of $33.25.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. The business had revenue of $265.78 million for the quarter, compared to analyst estimates of $265.53 million. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.During the same quarter in the previous year, the company posted $0.71 EPS. As a group, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, March 6th. WesBanco’s dividend payout ratio (DPR) is 73.43%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 29th. Piper Sandler assumed coverage on shares of WesBanco in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, DA Davidson assumed coverage on shares of WesBanco in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, WesBanco presently has a consensus rating of “Buy” and an average target price of $40.00.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.